Indices: Australian ASX 200
The ASX200 rallied +0.3% yesterday finally closing above 7500 although the index still surrendered well over half its early morning gains as the US futures drifted lower during their late session. Overall it was a fairly mixed session with over 40% of the main board closing in the red, the Energy sector weighed on the index slipping -1.2% while Real Estate was the standout rallying +1.4%.
Tuesday saw the ASX200 fail again at the psychological 7500 area with over 60% of the main board declining however January has still proven to be a great start to a year which many were, and still are, calling lower – the +6.2% gain took the local market to its best close since March’22.
The ASX200 slipped -0.16% yesterday in the process demonstrating a couple of points we’ve been highlighting of late:
